DUBLIN, Ireland – Clontarf Energy says all outstanding issues have been resolved with Ghanaian state oil company GNPC on its offshore Tano 2A block.
The signed petroleum agreement is now heading to Ghana’s cabinet for approval, with all legal proceedings dropped.
Clontarf acknowledges that the current NPP government has galvanized the licensing effort after a period of slow progress. It appears to be pro-development, and is actively reviewing historic petroleum agreements, with a stated focus on early exploration, discoveries, and output.
Earlier this year the Ghanaian Ministry of Energy and GNPC considered the current re-application by Pan Andean Resources (owned 30% by Petrel, 60% by Clontarf, and 10% by local interests) over the original Tano 2A license block acreage in the prospective Tano basin.
All parties are now thought to be keen to complete the ratification process. Clontarf’s own preference is to stick as far as possible to the terms of the existing signed petroleum agreement, with adjustments where necessary.